Media services, distribution and tech solutions firm Premiere Digital has acquired Stamford, Conn.-based CMI Media Management (CMI), a localization vendor that acts as a preferred service provider to the inflight entertainment industry, handling Hollywood content shown in-flight worldwide. Terms of the deal were not disclosed.
The addition of CMI gives Premiere Digital the ability to expand its reach to offer comprehensive media services to filmed content owners across more entertainment markets, and augments the company’s end-to-end media solutions.
”We are really enthusiastic about the acquisition of CMI’s deep expertise in the Inflight Entertainment Industry,” said Mark Lazar, CEO of Premiere Digital. “This, in combination with our services, technology and resources will allow us to have a wider and deeper reach into new markets and offer an even broader spectrum of services to our clients.”
Premiere Digital — based in Los Angeles and founded in 2008 — has services centered around content optimization and monetization, utilizing a combination of software, media processing tech, data, and workflow. CMI can only grow with Premiere Digital behind it, according to CMI’s CEO Haitham Wahab.
“Premiere Digital’s capabilities, especially in the areas of digital streaming and delivery will considerably strengthen CMI’s position as IFE continues to grow and technological innovation gains pace,” he said.
“This combination is a great fit for Premiere Digital as well as CMI, both of which have outstanding reputations in the media servicing business,” said David Ragins, managing director of Clarion Capital Partners, an investor in Premiere Digital.
CMI will remain focused on IFE from Stamford, with Wahab continuing to lead the company.